July 20, 2018
Capital Square 1031, a real estate investment and management firm specializing in Delaware statutory trust offerings, has sold Bridgeview Apartments, a 348-unit multifamily community in Tampa, Florida. The sale price was not disclosed.
“We are pleased to announce the successful sale of Bridgeview Apartments for a record price, which took this DST offering full-cycle in less than five years and provided investors with a 141 percent total return of equity and nearly 15 percent annualized total return,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.
Bridgeview Apartments is a garden-style community that consists of 17 wood-framed and stucco residential buildings ranging between two and three stories. The property includes a clubhouse with a business center, resort-style pool, playground, fitness center, tennis and racquetball courts, and three onsite lakes.
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